Crédit Agricole Asset Management (CAAM) has launched Crédit Agricole Structured Asset Management (CASAM) as a 50/50 JV with Calyon.
Calyon is Crédit Agricole Group's Corporate and Investment Banking Division. This new asset management company, approved by the Autorité des Marchés Financiers (the French securities regulator) on 1 September 2005, brings together expertise from across the Crédit Agricole Group in structured investment products, alternative investment through managed accounts, and Exchange Traded Funds (ETFs).
The joint venture is the sole provider of such products within the Crédit Agricole Group. It is set to be a major player in the global marketplace, with 430 funds and more than EUR 33 billion under management.
By virtue of its combined size, CASAM is a leader in structured investment in both France and Japan. According to figures released by the group, it has a 26% market share in France (Source: Europerformance-Fininfo - at end-July 2005) and a 30% market share in Japan (Source: Bloomberg/CAAM Japan).
By pooling together more than 10 years of experience and know-how coming from both CAAM and Calyon, CASAM is able to offer a broader range of structured products covering the needs of institutional investors, companies and individuals.
In its managed account offering, CASAM enjoys the support and cooperation of Crédit Agricole Alternative Investment Products Group (CA-AIPG). CA-AIPG's widely recognised expertise in selecting alternative investment managers will enable the development of a competitive range of managed accounts.
CASAM is responsible for the promotion of Crédit Agricole Group's ETF. These now represent a total of more than EUR 2 billion invested in the main European indices (CAC40 indexis, SPDR Euro and SPDR Europe 350).
CASAM intends to market its expertise via the CAAM and Calyon teams in more than 60 countries, to a client base of institutional investors, companies and distributors.
The Chairmanship of CASAM's Board of Directors will be held on a revolving,three-year basis by representatives of CAAM and Calyon:
- Marc Litzler, Deputy Chief Executive Officer at Calyon, will be the first Chairman of CASAM's Board.
- Fathi Jerfel, a member of the Executive Committee and Head of Structured Asset Management at CAAM has been appointed Chief Executive Officer at CASAM.
- Marc Romano, a member of the Executive Committee of the Equity and Fund Derivatives business line and head of Calyon's investment structuring teams, has been appointed Deputy Chief Executive Officer at CASAM.
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